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The Socialist Program with Brian Becker

Ukraine War Causes Massive Shifts in Global Economy

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 3 January 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

Brian  takes a look at some of the key global issues dominating politics as  2023 begins. In this  preview, he discusses the huge shifts taking place in the world's oil  markets as a consequence of the war in Ukraine and the price cap imposed  on Russian exports. At other points, the seminar discussed the latest  military developments in Ukraine, COVID-19  response in China, and the long-term evolution of capitalism and its  world system since the 1970s.

This  episode is a preview of a longer seminar conducted by Brian and others  on The Socialist Program team for members of our Patreon community. To  receive the link to register for the monthly seminars, subscribe to our  Patreon here: https://www.patreon.com/TheSocialistProgram

Transcript

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0:00.0

Welcome to The Socialist Program.

0:03.0

This is the audio of our monthly seminar.

0:05.0

Subscribe and support this programming at patreon.com slash the Socialist Program to join live once a month and ask Brian Becker your questions and listen to them as soon as they come out.

0:16.0

Thanks so much for your help in keeping this independent show going. We can make this program with you,

0:21.1

but not without you. I want to go to another story because it really is important in terms of

0:29.0

what's happening in terms of a geostrategic reorientation of not only global politics, but the global

0:37.2

economy as a consequence of the Russian military

0:42.1

intervention, the invasion into Ukraine, and the U.S. sanctions against Russia. It's not just the U.S.

0:48.8

It's like Samir Amin said. It's the United States leading global imperialism, including Western Europe,

0:55.9

eastern parts of the Central Europe and Eastern Europe, which are some of them very big

1:00.8

economies, but still kind of not the dominant imperialist players, of course, but in that camp,

1:07.1

and Japan. Here's an article from Wall Street Journal from just a few days ago. Russia's oil ban

1:15.9

accelerates shift in global energy flows. Russian crude is increasingly heading to China in India,

1:25.9

while Middle East producers are trying to sell more oil to Europe.

1:30.8

Now, this is really important because everybody, I think, knows that in order to sanction Russia

1:36.9

and to deplete Russia and to deplete its income base and its revenue, the United States got

1:44.0

the West European countries and Japan to

1:47.4

agree that there would be a price cap on Russian oil, that no one would buy Russian oil for

1:53.8

more than $60, even if it was selling on the world market at $80 or $90 a barrel or $100 a

2:00.2

barrel, that this would be the price cap. So the U.S.

2:03.1

wanted everything to go in all directions that would be beneficial to its plans. So they want to

2:10.1

punish Russia by decreasing Russian revenues on oil, but they still wanted access for Western

...

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